Facts about CBD and pets
One of the hottest growing trends in health and wellness is Cannabidiol, also known as CBD. Interest in the compound is at an all time high, especially in the pet care industry. Make sure you stay in the know with these facts about CBD and pets.
Pet owner attitudes and usage:
74% of CBD buyers have pets.
24% of pet owners use hemp derived CBD either for themselves, their pets, or for both.
Pet owners use cannabis products for a variety of issues including anxiety, stress, and pain management.
Veterinary attitudes and usage
29% reported that they were asked about CBD weekly by their clients.
56% report using CBD products for their canine patients.
66% consider CBD somewhat helpful for anxiety in pets.
80% reported no significant side effects.
Industry trends:
Sales of CBD pet products quadrupled in 2018 to $32 million from $8 million in 2017.
CBD pet products are estimated to be a $1.16 billion industry in the U.S. by 2022.
The average price per pound for CBD dog treats is 2x the average dog treat.
Hemp-based CBD pet products will represent 3-5% of all hemp CBD sales by 2025.
A CAGR of 2.8% is expected for treat and chew sales through 2023.